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Stock Market & Financial Investment News

News Breaks
February 28, 2013
05:40 EDTPZGParamount Gold & Silver completes PEA for San Miguel Project in Mexico
Paramount Gold and Silver announced the results of a Preliminary Economic Assessment, or PEA, for its 100%-owned San Miguel gold and silver project located in Chihuahua State, Mexico. The PEA was prepared by Metal Mining Consultants of Denver, Colorado incorporating a resource model developed by Mine Development Associates of Reno, Nevada. The PEA confirms that the San Miguel project represents an unusually robust economic opportunity to develop a low cost mine in the prolific Sierra Madre belt in Mexico. The complete PEA will be filed at SEDAR within 45 days. Highlights of the assessment include low initial capital of $232M and low operating costs generate exceptional economics. Estimated average annual production of 57,300 ounces Gold and 3.1M ounces Silver for 14 years. Estimated base case pre-tax NPV of $707M at a 5% discount rate and IRR of 33.2%.
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April 17, 2015
16:07 EDTPZGParamount Gold & Silver completes merger with Coeur Mining
Paramount Gold and Silver (PZG) announced that the proposals related to the merger agreement with Coeur Mining (CDE) were approved by both Paramount and Coeur stockholders and that the transaction has closed. Immediately prior to the consummation of the merger, Paramount distributed pro rata to its stockholders 8,101,371 shares of Paramount's wholly-owned subsidiary, Paramount Gold Nevada Corp. SpinCo is expected to begin "regular way" trading on the NYSE MKT on April 20 under the symbol "PZG", CUSIP number 69924M109. In connection with the completion of the transaction, Paramount's common stock will be delisted from the NYSE MKT and Toronto Stock Exchange. Paramount will no long trade as an independent company after market close and will be a wholly-owned subsidiary of Coeur.
April 10, 2015
05:10 EDTPZGParamount Gold & Silver receives listing approval for SpinCo on NYSE
Paramount Gold and Silver (PZG) announced that its wholly-owned subsidiary Paramount Gold Nevada Corp. has received approval from NYSE Regulation, Inc. for listing of Paramount Gold Nevada on the NYSE MKT, subject to SpinCo being in compliance with all listing standards on the date it begins trading on the Exchange. Paramount intends to spin-off of Paramount Gold Nevada as a separate, publicly traded company in connection with the previously announced merger of Paramount and Coeur Mining (CDE). Paramount stockholders of record at the close of business on April 14, will be entitled to receive one share of common stock of SpinCo for every 20 shares of Paramount common stock held by such stockholder, payable or issuable upon the closing of the merger, provided that they continue to hold their Paramount shares at the time of closing of the merger. Cash will be paid in lieu of issuing fractional shares of stock.
April 9, 2015
17:20 EDTPZGParamount Gold & Silver provides spin-off transaction update
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